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. >> very nice. >> all right. aside from that, we'll take a look at upbeat economic news out of china. the purchasing managers index rising to 50.9 in december. highest level since august. the surge also helped speculation the chinese government will take additional steps to support its economy. of the 15 times china's up 3%, since '09, s&p that day is up 13 times. almost every time. despite the futures today, is it a good omen for the markets here? >> look, there was a dichotomy in that government. there were people who were concerned about inflation. and there were people who said, listen, we're not growing fast enough. they do have a lot of levers. if they want to grow, i still -- i've been a bull on china. if they want to do 9%, 10%, they have the ability to do it. all they have to do is have a gigantic sewer infrastructure program. >> that's true. there's going to be an economic war conference held soon. it's believed the government will start to release growth forecast at that conference and perhaps unveil some further stimulus measures or tip their hat in terms of whether they
likely comes from the defense sector. at a time when china is rising. you see those planes land on that aircraft carrier this week? the middle east is boiling. i don't know. did we really want that big defense budget cut? i mean, maybe nothing more than the decline in spending is the war in afghanistan winds down. saving about half a trillion dollars over the time. maybe more. the areas where the defense job losses take place they look mighty red to me, at least on the electoral map. yes, you'll have to say goodbye to the fabulous 15% dividend rates and the capital gains rates will rise, not as much. the wealthy will pay what they had to pay percentage-wise during the best period for the stock market in my lifetime, the clinton years. i don't want to pay more tax. you don't, either. if we won't necessarily live happily ever after because of that i think we may be able to take -- i might be able to take this pin off before new year's day. wouldn't that be something? get this pin off before new year's day? that's why i need you to watch "meet the press" on sunday. not just because
. can china take over america? is it already happening under our noses? why one author says absolutely, s. also, ford motor company under fire for misleading customers. it's enough to make your blood boil. we'll weigh in on the hybrids' possible false advertising. possible false advertising. we're on the case next on " twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes invement objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilat
their reactions next. can china take over america? is it already happening under our noses? why one author says absolutely, yes. also, ford motor company under fire for misleading customers. it's enough to make your blood boil. we'll weigh in on the hybrids' possible false advertising. we're on the case next on "the willis report." tracy: speaker boehner warning the white house to be serious to call cliff, and the majority leader throwing in the towel saying it's difficult to reach a deal by christmas. crazy. with more, senator barrasso from wyoming. do you have any idea what's in the counteroffer? >> i don't have the final details on that, tracy. we have to avert the fiscal cliff. my concern is it drives us into recession, knocks up employment up, and i agree with you, we have to ensure more people have more of their own money in the pockets to decide what to save, spend, what to invest, and anything that hurts our fragile economy, i think is bad for all americans, especially those like you talk about, trying to put food on the table and get the kids to school. tracy: anything you come to the
of china-america capital joins us on this jobs friday. tim, we are being told there could be a murky jobs number because of hurricane sandy. what do you think about that? > > i think the market will dismiss a weaker-than-expected number because of hurricane sandy and the distortions that it has and look more toward next month, or january's report, that we will get. so, i think they will let it slide. but it should be weaker than expected. i think that is expected by the market, so it shouldn't be a surprise. > goldman sachs has a call out that we will see a renaissance in commodities. are you bullish on any particular commodities here? > > i am bullish on the agriculturals, for reasons of which the supply and also the growing drought that we had this past year, the continued conditions that make for dry growing season next year as well. so i think from a supply/demand standpoint, yes, i think agricultural. the other thing i like, commodities in general, is when the fed's buying $85 million a month worth of treasuries, i think you are going to have to like commodities. > what is your play
with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's
particularly the china pmi numbers and what we've seen from gdp recently that maybe some of the markets key to u.s. exporters may be showing signs of stabilizing, maybe get to growth. so that might mean moderation in the eurozone might ease in the first quarter. but again, this is all dependent on what happens with that ongoing debt crisis and any step back in resolving that would obviously have a knock-on effect to the economy. >> i'm wondering whether germany as we look at -- they're just above sort of recession territory at the moment. i'm wondering whether if they get better growth out of asia, that will offset the weakness that they're seeing in europe enough to keep them above the pencil line. >> what we've seen so far with today's numbers is exports are declining very sharp. they'll need asia and the u.s. to offset some of that demand weakness, but again, the biggest market for most is the euro zone. if the eurozone is performing badly, that will have a thok-on effect for those countries. >> there's a number of strategists saying after the u.s. has sort of led equities for most of th
starbucks in china and the u.s. within two years. "overall, there's going to be coffee available. that'll help you on pricing, so it might be a good time to be expanding." starbucks' expansion plans aren't only meared number of shops. in the last 12 months, its acquired juice company evolution fresh, bakery la boulange, and is about to finalize acquisition of tea company teavanna. tensions remain high in michigan's capitol city, where legislation is about to be passed that could weaken the power of unions. protestors are furious. republican lawmakers moved quickly last week to enact "right to work legislation," allowing workers at unionized companies not to pay dues to the union, which reduces bargaining power right in the uaw's own back yard. the measure has already been approved by both chambers of michigan's legislature, and final enactment could take place tomorrow. republican governor rick snyder supports the legislation. if enacted, it would make michigan the 24th state with right-to-work laws. recent strikes at a california shipping port are over, but concerns of outsourcing p
throughout china, even showed you numbers that said unlike yum, kentucky fried chicken, it hasn't seen any deceleration in china. these are my ears like i listen, these are my eyes, i've watched. howard schultz, call me crazy, made major fortunes investing with them, my bad. and then i heard the questions from the audience, i didn't even listen. what were they looking at versus what i was looking at? they were looking at john carter, i was looking at the new bond movie. one after another, they were all downbeat. is the expansion too rapid? is china any good? whether demand for expensive coffee is there. i was waiting for a guy to say, listen, that triple cappuccino stinks. if i were howard, i would tell them to take a hike. they were too negative versus what the company's up to. their pessimism? opportunity. starbucks was actually down. one time -- i have the apple ipad, you know, thing i'm like, wow, it's under 50. i mean, wow. terrific opportunity. ipad, i mentioned it, surprised one didn't come down and hit me over the head and knock me out. apple. if we're going off the fiscal cliff, w
>> hewlett-packard, have your exits ready for yourself. >> bk? >> if you want to play china but don't want to buy the a shares, look at taiwan ewt. government is supporting that market. >> i'm melissa lee. thanks so much for watching. we have the ceo of lu lu. see you back here tomorrow night for more >>> i'm jim cramer. and welcome to my world. you need to get in the game. going out of business and he's nuts, they're nuts! they know nothing! i always like to say there's a bull market somewhere, and i promise -- "mad money," you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm just trying to save you a little money. my job is not just to entertain but to coach you and teach you. so call mel at 1-800-743-cnbc. it is so easy to be negative right now! >> boo! >> incredibly easy. and when the gloom lifts. >> the house of pain. >> it almost feels like a reprieve from some sort of stock market death sentence. as it did today with the dow climbing 83 points. the nasdaq declined .77%. largely because of apple, mor
aren't you shopping? i question your patriotism. >> i bought enough stuff from china and thrown it away already. >> right now for valentine's day shopping we have to solve that long beach strike. >> clerical workers. >> you can't get things i want to start shopping for for valentine's day the moment christmas and hanukkah is over. you have to start shopping for the next day. that will be constrained because of the port strike. >>> when we come back, house majority whip kevin mccarthy did sign this offer from the gop. can he convince the white house to back the republican solution to the fiscal cliff? one more look at futures on a tuesday morning as melissa said. not a lot of data today. just wait until the next three days. it all starts with adp, jobs coming up later this week. more "squawk on the street" back in a minute. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy
by apple in california, assembled in china. all apple products are made in china. that's about to change. ceo tim cook announced starting next year one line of computers will be designed and built in the usa. >> i think it's a big surprise. >> reporter: cnet says with one line of macs and not the iphone or ipad, apple is not taking a huge risk. >> for apple to say this is something they want to do that they want to manufacture here in the united states, it's a big deal. it's a big differentiate tore for this company. >> reporter: this is the image that apple likes to show. that has been tarnished by sweat shop conditions at the chinese factories. nets were installed outside the dormitories run by apple contractor to prevent suicides after several contract workers jumped to their deaths. after widespread media reports apple began to improve conditions. >> they love the computers but we were saying i don't know, it's not conscious consumerism which is what we're looking at now. where is your money going. what is it supporting? >> reporter: made in america may be an emerging trend. apple is
think the world will look like. it's fascinating. it shows china on the rise, the west in decline and china overtaking the united states in size of economy by the year 2030. here are the key findings of the new intel report. it's interesting reading. a majority of the world's population by 2030 will be out of poverty for the first time in world history. there will be wars over food and water and natural resores. populations will continue to rise and there will be recurring global economic crises but when you think about this, you think about how far we're going here. you've got asia, china in particular will be dominant. it will be stronger than its been anytime since middleages. there will be no more pax americana as its known. china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you som
a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking about fundamentals in the stock market more than just the cliff. we've got to talk about apple reversin
let's go to another name that you say is a great u.s. play, on china stabilizing and growing. >> yes, and that's starbucks. starbucks a great american company. everybody needs a good cup of coffee. in china there is only one starbucks for every 1.9 inhabitants, can you believe that when we have one basically on every corner? [laughter] so there's tremendous opportunity there. you've got the tea growers in china, a lot of them are now switching to coffee because of starbucks, so that's a double play for you. liz: wait until they find out what a frappucino tastes like. >> oh, look out, china. liz: two pharma companies, what do you think are the big names here because we're all getting older, and we all need new medicine. >> we're going to be buying a lot of pfizer especially and bristol-myers. those are the two picks we have. pfizer is around 24, $25 a share, bristol-myers about 31. and they have in common a new blood-clotting drug, and everyone's very, very excited about that. bristol-myers developed it, and pfizer will be marketing it. so we hi there's huge opportunity -- we think th
year they told you about how they planned expansion in china. they said china would be its second largest market. schultz talked about getting into the tea business. i mention all of this so you understand that starbucks doesn't go in for idle chatter when it has these meetings. it has a terrific track record of following through on its plans. we want to know how the u.s. business is doing. and you need to hear about international. europe and especially china. starbucks is competing with keurig. don't forget, green mountain, it has been up huge. starbucks should tell us what it is going to do with its cash. maybe a special dividend. they have the cash to do it. i prefer them to grow with the money. this is a major bone of contention with the bulls. i think starbucks branching out is good. the bears, they seem to think that the coffee could be played out. starbucks will tell us about the new juice store concept and the bakery chain. maybe it will give us insight to what could end up being one of the three top markets for starbucks. india. i can't wait to hear about the projections
to stay a whole day and have programs that will allow them to be competitive with children in china and india, if you need that to be a real situation in america for us to be competitive ten years from now when we're not in a recession, you have to look at that and say this is not smart policy for the long term. and whatever we have to do to protect and insulate those children, we do that. now, how do we do that, you know, they were talking about before with food stamps, that's the hammock versus safety net discussion. we don't want it to be a hammock for people where people just lounge around and expect to get food stamps forever but you need a safety net when the bottom falls out and the bottom has fallen out. at this point, it is very cool to be able to look -- not cool, kind of cruel, even, to be able to look at what people can buy, what they can get and whether or not that is sufficient. >> i think cory booker's doing a great thing. just having it on the desk here was fascinating, what you actually buy and realize you try to buy it in new york, for example, could cost you up to
hitting four members of a family from china and then leaving the scene. one of the victims later died at the hospital. >> gina and the entire eunice family is chronically destroyed by what happened and i think it's fair to say that their main concern is for the yao family. >> bail is set at $2 million. she will be back in court on new year's eve this monday. her lawyer says she was about to graduate from college with hopes of becoming a police officer. >>> a terrible stench was the first claw that somebody was dead in a vallejo neighborhood. two people are under arrest in connection with a body found in the backyard of a home on warren avenue. the body of 56-year-old richmond romer of alameda was badly decomposed. he has been dead for two years. romer's 22-year-old son joseph romer is accused of hiding his father's body in relative's backyard. the body was found earlier this month. >> my sister had walked over there and got about to where the red car is and she is like, wow. i mean, she could smell it from that far off. so that's a good 40, 50 feet away that she could smell it. >> the
the time decorating with a christmas tree and stockings left behind from an earlier expedition. >> china has opened the world's longest high-speed rail line. it runs nearly 1,500 mi. from the country's capital and the north of guanmgzhou, in southern china. the line officially opened earlier this morning. trains on this high-speed online will initially run at 186 mi. per hour with a total travel time of about eight hours. before, the fastest time between the two cities by train was more than 20 hours. the chinese government plans to build a grid of high-speed railways which for east-west lines and for north-south lines by 2020. >> we will be right back. hey, look! a shooting star! make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new v
to pyongyang. press articles hail the fact that china in anticipation of the recent launch had begun inspecting cargo on north korean ships in search of contraband. the question this raises is why has chi gnat not been inspecting north korean ships since 2006 as called for in a u.n. resolution, reinforced by another resolution in 2009. if u.n. member states would only enforce the sanctions currently on the books, north korea would be unable to ignore the swer national community and the civilized world. the time for coordinated international action is now. the time, in fact, is long overdue. with that, mr. speakering i reserve the balance of our time. the speaker pro tempore: the squom from florida reserves. the gentleman from california, mr. berman is recognized. mr. berman: thank you, mr. speaker. i rise in strong support of h.con.res. 145 as amended and yield myself such time as i may consume. sproy the gentleman is recognized. mr. berman: i would like to thank the sponsor of this legislation, ms. ros-lehtinen, for her leadership on this issue and her work in addressing the north korean threa
markets around the world were closed for christmas, and for the day after christm christmas. china, five-month high on the notion that the urbanization plan will gain spurs in the housing stocks there. japan, abe confirmed as prime minister there. the seventh prime minister in the past six years. we did see the yen hit a 20-month low against the u.s. dollar. notable lows against the euro as well. the topics in the nikkai the lowest in nine months. >> going back to his old job, that he had back in 2007. strange in and of itself. i wonder how long it will take for people to start talking about netflix after the outage going into christmas eve on social media. they were calling it no flix. and to blame amazon web services, which is one of their huge growth engines. a unit of the company they say is probably a tenth of its eventual size. >> one of the highest growth parts of amazon right now, the web services portion. their amazon is down 1.25%. i don't know if that's the reason. but it was the streaming center in northern virginia that was the source of the netflix outage. it's resolved, th
. ultimately it helped to work. a lot of people supported that. people say, apple, they do business in china. these workers are virtually slaves. i will never own the stock. if that is the case they missed out on an investment unless they bought two weeks ago, an investment of a lifetime. so where do you find the way to draw the line? i've got to tell you something, this thing is urban outfitters is more reflective of society, not a company of really the have garrity in society today amongst young people is at the point where i talk about this all the time. i think pendulum has swung so far it can't get much further. lori: do you the think the stock surge up 34% year-to-date, urban outfitters because of shocking nature of stuff? kids in way to rebel and spicy putting it as nicely as i can? what is going on with the store that is generating interest? >> they are ahead of the curve. real hip store called supreme. they have a location in l.a. and soho. urban bought them. it was a brilliant move. this was underground success. they sell it throughout everywhere. it is a real smart retail play. i
economically, china being the biggest case of this, turning out millions of engineers, scientists, jumping up in productive and technology and they made some interesting calculations of course, the numbers are, you know, a little bit subject to question, but they're trying to add up the factors that create global power, whether it's the size of the economy, or the amount of research and development countries are doing, or the level of education of the population or the military. so basically we see that the u.s. that was so dominant 40 years ago, we know that our dominance has been going down relative to other countries is basically going to become one of a few superpowers, but not only the superpower. >> so other countries are catching up. how does that have to do with what we all talk about as the decline we see happening here and how real is it? >> i think what this report rightly stresses is that there are a number of things going on. one is that others are catching up. and the other is that we have got many problems that we're not attending to. >> what is for real? >> one thing that's fo
into a group of people last week. the accident killed a 56-year- old woman visiting from china and injured two others. police say the injury knocked the three pedestrians about 30 feet down a hillside. while the victims' family did not appear in court, the suspects' relatives came to the hearing. they declined to talk on camera. but the suspect's attorney did speak saying gina eunice is praying for the victims, the yao family. >> gina and the eunice family are destroyed by what happened. and i think it's fair to say that their main concern is for the yao family. >> reporter: district attorney george gascon says he will prosecute this case aggressively. he says this is another example why people should not drink and drive. >> we are very concerned about the use of alcohol and driving and especially during the holiday season where so many people are attending parties. >> reporter: if eunice is able to make it $2 million bail, the judge says she would not be able to drink or drive. she is scheduled to return to court monday. >> da, did anything come up in court about whether she had any prior con
. this is the world's longest high-speed rail line which stretches 1400 miles in china. takes passengers from beijing, to, i can't say that name. thank you. me and pronounciations. i can barely get shapiro right. before the train existed the travel time was twrept hours between the two cities. now it only takes eight hours. will we ever see something like this in the united states? julie, do we need it? is it relevant for high-speed rail in the united states? >> for those of us who ride the corridor for every stuck up. adam: faster sometimes to go on the regular train. >> i love this. apparently if we had the high-speed rail, new york to d.c., god knows why you want to go to d.c. under hour which i love. americans love their cars. adam: bingo. >> china doesn't have competitive airline industry. we've got rival airlines that make it cheaper. adam: study said, i recall this a year ago, pointed out putting money united states is investing in high-speed rail into fixing our highways and creating different kinds of fueling spots, if you want to go electric would be far better use of the money than buildin
david: "time" to go off the desk and over to china where the world's longest high-speed rail line just opened. this train runs 4028 miles from beijing. hitting a speed of 186 miles an hour. travel time for the big distance, just eight hours. before the new high speed line the same trip took about 20 hours. >> pretty amazing. also off the desk it is a record year for the box-office. the biggest flop of the year, disney's "john carter". the sci-fi epic at budget of 250 million bucks and took in over 280 million worldwide. the children's filming agy loves, also, to million was the budget. brought in one million. david: money with adam shapiro is right now. >> i'm adam shapiro in for melissa francis. here's what is money tonight. let the last minute panic begin of the president obama is set to fly back to washington in the next few hours to try to scrape out a fiscal cliff deal but hope is fading fast. if that weren't bad enough, the treasury now says the u.s. will hit the debt ceiling on new year's eve. will this be a game-changer for reaching a deal? >>> plus as if the fiscal cliff
orbit. china opened the world long as high-speed rail line. there was nearly 1,500 mi. from the country's capital to the north and southern china. the line officially opened early this morning. trains on a high-speed line will initially run a one- handed hundred 86 mi. per hour with a total travel time of about eight hours. before the fans is that between two cities by train was more than 20 hours. the chinese government plans to build a grid of high-speed railways with four east west lines and for north-south lines by 2020. after our show dr. phil at 10:00 a.m.. we will be right back. >> despite a summer slump at the box office 2012 is expected to mark the industry's highest year on record. it forecast hold through up out the end of the year the industry was the up nearly $11 billion in ticket sales. films including the avengers, the hundred games, and the twilight saba breaking dawn help keep revenue afloat. clinton andclinton tarantino die unchain and a musical light as a route which opened yesterday are expected to help 2012 and not a high note. does the customs and is expecting it
,000 locations in the u.s. and another 6,000 around the world. china plays a big role in starbucks' expansion plans. coffee chain hopes to have 1500 stores in china by 2015. >>> we all love the smell of pizza just out of the oven. >> but do you love it enough to spray it on your neck? coming up pizza perfume. does this idea stink or is it genius? >> not really. >> all right let's talk about what's going on because we are dealing with some very cold temperatures but the 60s are in the forecast. when they come back coming up. >> everything is nice can clear here on -- ask clear here on route 95 in harford road. what traffic looks like on 695 and 83 coming up on "good morning maryland." >>> well the happiest place on earth is about to get a lot bigger. today the new fantasyland opens in orlando. it features new villages like the be our guest restaurant. the addition will cost $425 million. it will be doubling the sides of that portion of the magic kingdom. disney says it's the largest expansion in the park's history. >>> take a minute and imagine that fresh smell of pizza. thanks to pizza hut yo
of that had to do with some of the noises we were hearing out of china. take a look at that etf. that is very strong. one other sector i want to put everybody on to is utilities. utilities are very strong today for a couple of reasons. they really lagged the s&p in november. some of the noises that are we are starting to hear out of the fiscal cliff discussions mailing the rates where they are. that will, of course help utilities. take a look at that excelled you. liz: that is exactly what we are doing. natural gas. it is up 4%. crude moving lower. tell me about that moves and natural gas today. that is no small chunk of change. >> it is kind of funny. everyone has different stories. i kind of feel left out here. it was a gooddmove on natural gas today. my primary focus is on crude. going forward, from here, i think we are just in a range. we got up to $90 on monday. i think we will staff a little higher. if we do go over the fiscal cliff, how long we stay there for stock. liz: you start to see some real moves and action at those levels. >> $90, we came right back off. until we get a more inf
in china that make the products. several contract workers jumped to their deaths rather than continue working in china. after media reports, apple began to improve conditions. >> they love the computers but we were talking about that over dinner and saying, you know, i don't know. it's not conscious consumerism which is what we're looking at. where is your money going, what is it supporting? people jumping off buildings? >> reporter: made in america may be an emerging trend but apple isn't the first. its rival google announced last summer that its new media streaming device called the nexus q is made in the u.s. speculation is rampant about what computer and where in the u.s. apple will manufacture its former assembly plant in elk grove one possibility. although some see apple's decision as a public relations move, one user says it's right for the times. >> i hope it's something tangible. this is also for the stakeholders. people on the ground actually working on the apple phones. >> reporter: low wages and low fuel costs were the main forces driving companies to start manuf
lived in china. once again, america's proof we are falling behind in infrastructure. thanks for watching "street signs." i'll send it to "closing bell." >> and hello again, everybody. welcome to the "closing bell." i'm mandy drury sitting in for maria bartiromo. happy boxing day as well. >> christmas is over but mandy has been celebrating boxing day all day. we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the moment. 13,139 after a meandering much of the day. the nasdaq hardest hit today. technology has been very volatile recently. still down a fraction right now. 13 points, fraction percentage-wise and the s&p is down 3.33 at 1423. five days left until the fiscal cl
. >> and he is expected to name his cabinet later today. >> china has opened the world's largest high-speed rail line. >> it runs nearly 1,500 mi. from the country's capital and the north to guan gzhou, in southern china. >> the lot officially opened early this morning. >> trains on this high speed line will initially run at hundred 86 mi. per hour with a total travel time about eight hours. >> before, the fastest time in two cities by train was more than 20 hours. >> the chinese government plans to build a grid of high-speed railways with forties' was lied to for north-south lines by 2020. >> a veterinarian in the uc davis has some good news about a dog from the philippines became an international hero after sacrificing it's not to say to young girls. >> the dog named kabang appears to have beaten the cancer it was suffering from. kabang ended up in davis' earlier this year after a nurse in new york spent a fund-raising campaign to bring her to the u.s.. >> will be back with kron 4 morning news. >> here is a look at the bay bridge toll plaza. traffic is picking up. it is still light
, this is going to expand to china town. it is going to expand to all other places in this city. and i'm already seeing them beginning to try to line up on lumbard but i called immediately. and we need to have controls over this industry. the prices are not less. but what you are really doing by allowing this predatory practices and this is what you will hear from me about, is we are losing jobs. you keep talking about jobs, making jobs, well, we are losing them because of this type of practice. and a lot more than a couple of people working in a food truck, back of these kitchens there are three, four are five people cutting, preparing the coffee, grinding the beans, trying to in many of these businesses are down to nothing. with their back lot because of the permit, the permit prices and the san francisco, i think, sabotage on the small business which is the crutch of this city. you have your choice, small business, or coffee trucks thank you. >> is there any other public comment? >> okay. seeing none, we will move into rebuttal. mr. walsh? >> you have three minutes. >> i think that we have ba
. the floors in china was cleard and never replanted. if you look up at the seceiling you would believe that's hand kof carved out of wood and it is a cast plaster sealing and the only spanish design in an arts building. there are no records about how many people worked on this building. the workman who worked on this building did not all speak the same language. and what happened was the person working next to the other person respected a skill a skill that was so wonderful that we have this masterpiece to show the world today. >> like to welcome everyone to san francisco's planning commission regular hearing for thursday, november 29th, 2012. please be aware that the commission does not tolerate any disruption or outbursts of any kind. please silence any mobile devices that may sound off during the proceedings. if you would like to speak on an agendized item please fill out a smear card. and when speaking before the commission, please state your name for the record. at this time we'd like to take roll. commission president fong? >> here. >> commission vice president wu? >> here. >> commiss
by opening 20,000 more cafes by 2014, with much of the growth coming from china. 1500 stores will open in the u.s. alone in a span of 5 years. and now with the recent acquisition of teavana, starbucks will eventually open "tea bars" in shopping malls. for serious coffee drinkers, starbucks is offering a stainless steel gift card starting at $400 friday morning. citigroup is transitioning to a smaller workforce. the bank is cutting 11,000 jobs, which will save citi $900 million next year. cuts were rumored following former ceo vikram pandit's departure from the bank. citi chairman michael o'neill has been known to cut staff to turn business around. the bank has been trying to rebound after being hit hard during the financial crisis. worldwide, 84 branches will close as a result of the measures. a trader is under arrest, allegedly for attempting to get rich quick by trading shares of apple. according to reports, david miller was trading at rochdale securities. the fbi claims he bought roughly $1 billion in apple stock, unauthoritized, with the brokerage's money, on october 25th. that's t
.6 percentage points. they cited a drop in exports stemming from a territorial dispute with china. the bank officials say southeast asian economies are supported by solid domestic demand. they added the countries are relatively unaffected by the debt woes in europe. >>> as if to back up the ad bcs's projection, japan's economy remained out of steam in october. the latest key economic indicator fell for the seventh straight month. the cabinet office says the coincidence index of the economy ticked down 0.9 points from september to 90.6. the index tracks the current state of the economy and reflects activities like industrial output and employment. government officials trace the decline to the global economic slowdown. they said shipments of tvs and some other products suffered during the month. they downgraded their assessment of the economy to worsening for the first time since march 2009. >>> the operator of the fukushima daiichi nuclear plant has released information about the doses of radiation workers were exposed to at the plant. tokyo electric power company had earlier submitted the s
.5% today. >>> a slowdown in the country of china is proving to be short lived. power generation and food processing firms are leading the recovery. >>> and germany's latest exports seems to be recession proof. it's a tradition dating back to the middle ages, but germany's christmas markets are more popular than ever. nbc's andy eckh artson sends this report. >> every december, music rix out across girlny's favorite christmas market. berlin alone hosts more than 80 markets, each with its own character where the sights, sounds and smells of christmas combine to keep your financial crisis at bay. >> we don't feel a crisis. when you look around here at the christmas market, you meet so different people from germany and it's so popular to come to berlin. christmas season is present season. >> over the past 20 years, germany's christmas markets have become a big attraction and big business. analysts estimate that the german christmas market industry brings in billions of dollars annually. for many small businesses and traditional craftsmen, the markets are the main source of income for the yea
. >> in china, police arrested a farmer who stabbed 22 children and one adult outside an elementary school on friday. min ying-jun is in custody. authorities describe min as possibly being mentally ill. the children are said to be between the ages of six and 12. none of the died, however two children had to be sent to hospitals outside the country for better care. authorities have not identified a motive. there have been a string of similar assaults against school children in china. one in 20-10 killed nearly 20 kids and injured more than 50 other people. otpolice arrested an oklahoma teenager on charges he plotted to bomb and shoot students inside a high school campus auditorium yesterday. the same day of the connecticut elementary school shooting. an arrest report says 18-year-old sammie chavez tried to convince others to help him lure students into the auditorium, and then planned to chain the doors shut and start shooting. authorities say chavez threatened to kill students who would *not help him. other reports show chavez planned to detonate a bomb once police arrived. the school dis
vacuum cleaner. sucking into the united states the net exports of europe, japan, and lately china. thus providing exporters -- germany, japan, or china -- with the requisite demand necessary. so, the ever expanding trade deficit was not an accident. it was a very clever way of replacing one that surplus recycling system with another. the first one, it was one where america had a surplus and america decided instead of doing what germany is doing at the moment -- which is cutting its nose to spite its face, and thereby ending the -- entering recession by cutting, cutting, cutting -- volcker as the head of the fed at a different idea. we are going to expand our dominance and are well by -- and our wealth by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. -- ours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the
transportation. i'm concerned about education. i'm concerned about cutting in all of these areas that make china -- give china a bigger advantage as we move forward that give our global competitors a bigger advantage. that's what really concerns me. >> two quick observations. if you're in business and you're told we've got to make changes at our budget and you look at 6%, 15% of your budget, 9% of your budget, you've got to make cuts, you look at the 60% first and say where can we make manufacture she's cuts. talk about not endangering our ability to compete and win going forward, you don't want to cut those areas as steve has talked about eloquently many times, there are advantages which means you have to look at entitlements. and i think to michael's point, i think there's credit to that. two, i like the fact that boehner now is in a stronger position with his caucus because if indeed they find a deal, that means he can win a majority of his people over. i like the fact that nancy pelosi's in a strong position with her caucus. so the pieces are not only coming together substantively, they're c
that egotism that everybody reacts to. >> i was in china for ten days and with a group of mayors, the mayor of philadelphia, beijing, mayor nutter. and you know, people in china are asking about the fiscal cliff. everywhere we went. what's going on with you people? so the world is watching. and it's not just us. and i don't care, maybe you think the chinese, well, too bad for them, but it's not just the chinese, it's europe, and they're blaming the fact that their economies aren't going based on the fact that we're in this stalemate. you know, it's huge. >> harold, i mean, it all comes down to leadership. you know, when you talk to business owners, they want leadership shown. i'm glad the president is talking to business leaders now. >> and a debater on the phone. >> not only the administration but also on the other side of pennsylvania avenue with the republicans and harry reid in the senate. you're just not seeing it. >> you don't see enough of it. curiously, the markets -- investors are actually increasing their exposure which is kind of contrarian to your point. i do believe to julia's
in this country. we're better than china. meanwhile our energy costs are plummeting courtesy of the cleaner, cheaper fuel, natural gas. so cheap here it can be liquefied in the united states and sold overseas at much lower prices. potential exporter dominion later tonight. that business unimpeded by washington could be brimming with jobs. a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington, all because of the need to sock it to the 2%, not the 1.5% and the over $400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to my college chum grover norquist. i thought bill gates and chief justice roberts were powerful. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that would rather create a recession, a mandated economic collapse, let's create a bear market versus rising above. and guess what? these enemies of wealth and job creation may get their way and win. yes, to borrow a phrase from my own rant last time we were on the brink of a
, tea and juice. and in china and the asia pacific region, there's plenty of room to grow. starbucks expects china will overtake canada as its second largest market in 2014. >> great to have you. thank you. and forbes is out with a list of the world's most powerful people. number five, pope benedict xvi. bill gates is number four. of course the microsoft found are and philanthropist. number three, russian president vladimir putin. number two is almost the most powerful woman, angela merkel and number one was unanimous, president barack obama. ♪ everybody wants to rule the world ♪ cer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! [ male announcer ] are you on medicare? do you have the coverage you need? open enrollment ends friday, december 7th. so don't wait. now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call tod
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